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Share Name Share Symbol Market Type Share ISIN Share Description
Redde Northgate Plc LSE:REDD London Ordinary Share GB00B41H7391 ORD 50P
  Price Change % Change Share Price Shares Traded Last Trade
  -2.50 -1.02% 242.50 807,482 16:35:25
Bid Price Offer Price High Price Low Price Open Price
239.50 240.50 245.00 238.50 245.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 779.35 59.00 30.80 7.9 744
Last Trade Time Trade Type Trade Size Trade Price Currency
18:05:22 O 47 242.50 GBX

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Date Time Title Posts
24/11/202016:57Redde plc - accident 'restoration' activities4,455
28/8/201611:13Is LGT the next REDD?9

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DateSubject
28/11/2020
08:20
Redde Northgate Daily Update: Redde Northgate Plc is listed in the Support Services sector of the London Stock Exchange with ticker REDD. The last closing price for Redde Northgate was 245p.
Redde Northgate Plc has a 4 week average price of 173.80p and a 12 week average price of 173.80p.
The 1 year high share price is 355p while the 1 year low share price is currently 108p.
There are currently 306,868,351 shares in issue and the average daily traded volume is 504,194 shares. The market capitalisation of Redde Northgate Plc is £744,155,751.18.
24/11/2020
14:21
greenhat2: Who cares what the directors get paid We only care about the profitability of the company and share price
23/11/2020
21:02
flyfisher: Yes, there are several hurdles that must be overcome, along with different cut off dates. Free float is earlier as it is does not change with the share price. To get automatic entry one must be above 325th, below that they take as many as are needed to replace the evictions.
07/10/2020
11:28
flyfisher: A previous comment from Crystal Amber. ''Northgate's well-managed Spanish business, which generates over half of the group's operating profit, is the clear leader in its market with a strong brand, good geographic coverage and an attractive return on assets. The Fund believes that the considerable value of the Spanish business is not reflected in Northgate's share price and that the company should therefore properly explore all options to realise the value of this asset. For example, if the Spanish business were to be worth 130% of nav to an acquirer, then investors in Northgate would be currently paying less than one third of net asset value for the residual UK and Ireland businesses.''
04/9/2020
06:02
skinny: Redde Northgate Plc Acquisition of business and assets. Acquisition of certain businesses and certain assets of Nationwide Accident Repair Services Significantly increasing our strategic and operational capability Redde Northgate plc (LSE:REDD), the integrated mobility solutions and automotive services provider, today announces the acquisition, by a wholly owned subsidiary, of certain businesses and certain assets of Nationwide Accident Repair Services ("Nationwide") by way of a purchase from administrators, for an initial cash consideration of up to GBP11m, plus a deferred consideration of up to GBP5m conditional on retention of certain trade business on satisfactory terms. The Group also provides a brief update on trading ahead of the preliminary announcement scheduled for 16 September 2020. Trading Since our pre-close trading update of 19 May 2020, and as restrictions relating to Covid-19 have eased, the Group has seen sequential monthly improvements in trading, such that the level of support packages provided to customers has now reduced to a minimal level, vehicles on hire have increased in all countries, accident and incident volumes have started to increase as traffic volumes pick up, and vehicle disposal channels have re-opened, with recent significant improvement in residual values compared to the prior year. Further, excellent progress has continued to be made in integrating Redde and Northgate since the merger. Given the improving trading environment and the continued close management of liquidity, cash inflows have been strong and the headroom on our bank facilities has increased from GBP234m at the end of April 2020 to GBP291m at the end of August 2020. Acquisition Nationwide is the UK's largest wholly owned repair network and the largest independent accident repair company in Europe. It is a strategic partner to many UK insurers, with whom, in several cases, Redde Northgate has existing relationships. Of the current 102 bodyshop sites, we will take up to 77 sites, providing the Group with national geographic coverage. Of these sites, there are a small number of freehold properties, and the remaining leasehold properties will be occupied under licence granted by the administrators and we will make a determination in due course whether to take leases on these sites based on whether we achieve satisfactory lease terms. The acquisition will see approximately GBP17m[1] of gross assets, including a fleet of mobile repair vans to service customers in their location, as well as approximately 2,300 of Nationwide staff, transfer to the purchasing subsidiary. The acquisition is expected to be earnings enhancing in the first full year of ownership as well as delivering a post-tax return on invested capital comfortably in excess of the Group's weighted average cost of capital. The acquisition, which will be funded from existing facilities, further reinforces the strength of Redde Northgate's proposition, extending the Group's existing capabilities in Service, Maintenance and Repair services. Before this transaction, in the UK, Redde Northgate did not have in-house capability for repairs, but has long considered building capability in the UK as the Group already successfully runs repair centres in Spain. This transaction offers the Group the opportunity to deliver on that goal quickly, with a strong team, well located sites and an existing flow of business, utilising surplus repair capacity with its own volumes. Commenting on the acquisition, Martin Ward, CEO of Redde Northgate, said "At the time of the Redde Northgate merger, we set out our vision to become the leading integrated mobility solutions provider. This acquisition, our first post-merger, is in line with that vision and significantly increases our strategic and operational capability to support a wider number of business partners requiring automotive repairs. We expect this acquisition will open up new markets to the Group, and in combination with an established pipeline of repair work from existing Group companies, such as FMG, it is well placed to maximise future opportunities. We welcome those Nationwide colleagues who will be joining the Redde Northgate Group and we look forward to creating new value and service offerings for all our stakeholders." For further information contact: Buchanan David Rydell/Jamie Hooper/Tilly Abraham +44 (0) 207 466 5000 Notes to Editors: Redde Northgate plc is a leading integrated mobility solutions platform formed in February 2020 following the all-share Merger of light commercial hire business Northgate plc and Redde plc, the provider of incident and accident management, legal and other mobility-related services. The Group provides mobility solutions and automotive services to a wide range of businesses and customers spanning the vehicle life cycle across vehicle supply, service, maintenance, repair, recovery, accident and incident management and disposal through sale or salvage. With an extensive network and diversified fleet of over 110,000 owned vehicles and over 400,000 managed vehicles in more than 100 branches across the UK, Ireland and Spain, the Group aims to utilise its scale, reach and comprehensive suite of integrated services to offer a market-leading customer proposition and drive enhanced returns for shareholders. Further information regarding Redde Northgate plc can be found on the Company's website: www.reddenorthgate.co.uk [1] Gross assets consist of properties, plant, machinery and stock. Value is an estimate and unaudited at this stage. END
20/7/2020
13:24
rental: forget everything the most important thing to redd is the disposal prices and the current market and anyone in the trade knows prices for vans and cars have gone sky high. redd profits will be up by massive percentages from June 2020 onwards, all the way through next year, dealers that normally stock for example 100 vans are down to 6 vans in stock. a £10000 van is up in price by around 20 percent, Premium Car prices are through the roof too, a BMW M2 trade price £32000 selling through BCA for £44000. £4500 vans are up £2000 for £6500 U I would guess now alot of rentals have came back off hire then got sold at super high prices in June and now you cant buy a van anywhere so I would guess northgate side now running at 99 percent ulitisation, and as vehicles go off hire or swap for new vans northgate side making at least £2000 extra per van sold from june onward to continue next 12 months if northgate side sell and swap for new 50000 vehicles and make £2k over cap for each van then this will bring in 100 million extra profit, (not turnover) we should have been at a 400 share price anyways, this was dropped due to covid, but redd are winning over the norm proift due to van shortage, so we really should be at a share price of 550 - 600
12/12/2019
14:41
aleman: A very cyclical company buying one which is not very cyclical at the top of the cycle IS a sensible business decision for NTG holders - but NOT for REDD holders. It might be a merger but legally it's an all-share bid by NTG for REDD. The discount in REDD shares indicates scepticism. Historically, all share bids have a lower chance of success. Shareholders prefer cash and all the paper indicates lack of confidence or ability to raise any cash by the bidder. It smacks of desperation. I have cash available and was considering topping up in REDD before the bid news broke. Now I'm holding off. I don't want NTG shares at anywhere near their current price. I might still top up in REDD at these levels if the bid fails. In my view, the worrying NTG bid is depressing the REDD price. A few like yourself will arbitrage the difference. You might be successful - but I will be voting no.
29/11/2019
12:20
martincc: Well it looks like the market is underwhelmed by this deal. NTG and REDD share price falling away. I agree pretty much with Owenski, nothing in this for REDD
29/11/2019
07:16
trickyricky: Hmm, not sure what to make of this. NTG have too much debt for my liking?What impact will this announcement have on the REDD share price?
29/11/2019
07:05
skinny: RECOMMENDED ALL-SHARE MERGER. RECOMMENDED ALL-SHARE MERGER of NORTHGATE PLC and REDDE PLC Summary · The Boards of Northgate plc ("Northgate") and Redde plc ("Redde") are pleased to announce that they have reached agreement on the terms of a recommended share-for-share merger of Northgate and Redde (the "Merger"). It is intended that the Merger will be implemented by means of a Court-sanctioned scheme of arrangement of Redde and the Redde Shareholders under Part 26 of the Companies Act, with the entire issued and to be issued share capital of Redde being acquired by Northgate. · The merged entity, to be called "Redde Northgate plc", will be a leading integrated mobility solutions platform with the scale, reach and resources to provide customers with a comprehensive suite of mobility services and the potential to deliver substantial benefits to shareholders, customers, employees and other stakeholders. · The Boards of Northgate and Redde believe that the Merger has compelling strategic logic and represents an attractive opportunity for both Northgate and Redde to enhance their proposition in the vehicle life-cycle and to deliver synergies, customer benefits and shareholder value. The Merger · Under the terms of the Merger, each Redde Shareholder will be entitled to receive: 0.3669 New Northgate Shares for each Redde Share · Immediately following Completion, Northgate Shareholders will own approximately 54 per cent. and Redde Shareholders will own approximately 46 per cent. of the share capital of the Combined Group (based on the fully diluted ordinary issued share capital of Northgate and the fully diluted share capital of Redde, in each case as at the date of this announcement).
25/10/2019
16:23
bc4: MIDAS SPECIAL: Are there any companies worth backing from the Woodford wreckage? Redde makes life easier for motorists when they are involved in road accidents. Woodford probably thought the firm would make life easier for him too. REDDE The group has contracts with several large insurers and dealerships so, when customers ring up to say they have had an accident, they will be referred straight to Redde Woodford probably thought the firm would make life easier for him too The business has a fleet of more than 10,000 cars and prides itself on top-notch service, providing replacement vehicles from standard hatchbacks to luxury convertibles to ice-cream vans. Redde also works with a network of garages to ensure that repairs are completed quickly and efficiently and it manages claims for insurance firms. Ward works with big companies too, handling damaged fleet cars or vans. And there is a legal division, that covers motor injuries, employer liability and negligence claims. This division works on behalf of insurers but it has some large public-sector customers too, such as the Royal College of Nursing and the British Medical Association Ward did not just put the business back on its feet, he changed the dividend policy so that virtually all the profits are paid out as dividends. In the year to 30 June, Redde paid a dividend of 11.65p, putting the stock on a yield of more than 10 per cent. In most cases, such a high yield rings alarm bells with canny investors but Redde is slightly different because the generous payments are part of a deliberate policy and the board is committed to making sure that there is sufficient cash left in the business for its needs. Redde had a difficult time earlier this year, when it lost a contract with a large insurer and the stock halved from £1.80 to 90p. Other contracts have been won since but these have not been fully reflected in the share price. This presents an opportunity for investors. MIDAS VERDICT: Redde is linked to the Latin word restoration, helping drivers to get back to normal. With the stock at £1.14, the word is relevant to investors as well. Redde is a strong business with an attractive dividend and the shares should move higher. The Woodford stake is large but big investors have been expressing an interest in the stock so the holding should be sold off relatively smoothly This is a very good summing up about REDDE and its business
Redde Northgate share price data is direct from the London Stock Exchange
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